Barrington Research restated their outperform rating on shares of Kelly Services (NASDAQ:KELYA – Free Report) in a report released on Friday morning, Benzinga reports. They currently have a $29.00 price objective on the business services provider’s stock.
Separately, StockNews.com cut Kelly Services from a buy rating to a hold rating in a report on Friday, August 9th.
View Our Latest Report on Kelly Services
Kelly Services Stock Performance
Kelly Services (NASDAQ:KELYA – Get Free Report) last released its quarterly earnings results on Thursday, August 8th. The business services provider reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.15. The company had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.05 billion. Kelly Services had a return on equity of 7.82% and a net margin of 1.09%. The business’s quarterly revenue was down 13.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.36 earnings per share. As a group, equities analysts anticipate that Kelly Services will post 2.49 EPS for the current fiscal year.
Kelly Services Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Wednesday, August 21st were given a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date was Wednesday, August 21st. Kelly Services’s payout ratio is currently 21.58%.
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of KELYA. Brandes Investment Partners LP grew its stake in shares of Kelly Services by 36.2% during the 2nd quarter. Brandes Investment Partners LP now owns 28,512 shares of the business services provider’s stock worth $610,000 after acquiring an additional 7,576 shares during the period. Northwestern Mutual Wealth Management Co. bought a new position in shares of Kelly Services during the 2nd quarter worth $30,000. Susquehanna Fundamental Investments LLC grew its stake in shares of Kelly Services by 107.1% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 18,269 shares of the business services provider’s stock worth $391,000 after acquiring an additional 9,449 shares during the period. AQR Capital Management LLC grew its stake in shares of Kelly Services by 5.8% during the 2nd quarter. AQR Capital Management LLC now owns 371,548 shares of the business services provider’s stock worth $7,955,000 after acquiring an additional 20,520 shares during the period. Finally, Squarepoint Ops LLC grew its stake in shares of Kelly Services by 38.3% during the 2nd quarter. Squarepoint Ops LLC now owns 17,408 shares of the business services provider’s stock worth $373,000 after acquiring an additional 4,822 shares during the period. Institutional investors own 76.34% of the company’s stock.
Kelly Services Company Profile
Kelly Services, Inc, together with its subsidiaries, provides workforce solutions to various industries. The company operates through five segments: Professional & Industrial; Science, Engineering & Technology; Education; Outsourcing & Consulting; and International. The Professional & Industrial segment delivers staffing, outcome-based, and permanent placement services providing administrative, accounting, and finance; light industrial; contact center staffing; and other workforce solutions.
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